InterOil Sucks Customer Reviews and Feedback
Prior to its acquisition by Exxon, InterOil Corporation was a fossil fuel company with a primary focus on Papua New Guinea. InterOil's assets included one of Asia's largest undeveloped gas fields, Elk-Antelope, in the Gulf Province. The company employed more than 2000 staff and contractors.
Lawrence Delevingne for Business Insider mentioned the long controversial life Of InterOil (IOC), "Today, we published excerpts from a new investigation of the controversial energy company InterOil (IOC).
Felon-turned-fraud-investigator Barry Minkow (who holds short positions on IOC) and his Fraud Discovery Institute says it's all a sham:
InterOil has ‘undiscovered resources’ and calling a field ‘world class’ isn't the same thing as actually knowing how much of a natural resource exists there. InterOil is capitalizing on the confusion between undiscovered resources (which are unknown quantities) and discovered resources. And the victims are the investors who falsely believe that InterOil has known quantities of natural gas, when in fact they do not.
Minkow has an entire website -- www.internooil.com -- devoted to taking down the company. It includes a commissioned geologist's report that allegedly shows "InterOil uses hype and smoke-and-mirrors techniques to bilk investors out of hundreds of millions of dollars.” To be fair, Minkow is also paid for his research and often takes short positions in the companies he trashes.
Another felon-turned-fraud-investigator, Sam Antar, says InterOil's stock is boosted by a manipulation scheme involving InterOil, John Thomas Financial, and Clarion Finanz AG:
I believe that InterOil with the assistance of Clarion Finanz concealed John Thomas Financial’s involvement in helping it raise $95 million through a private placement of convertible debt securities. Clarion Finanz acted as a buffer between InterOil and John Thomas Financial to help InterOil hide John Thomas Financial's role in raising funds. Afterwards, InterOil filed false and misleading reports with the Securities and Exchange Commission in an effort to conceal John Thomas Financial’s role in helping the company raise $95 million in convertible debt."
Former Employee - Senior Manager says"internal politics and < great attitude to internal controls"
Former Employee - Oil Field Manager says"Low salary, Management , obsolete Procedures , Payment"
Senior Credit Coordinator (Current Employee) says"Staff welfare and growth is not so organized which points at the structure of the Human Resource department and organization as a whole. Appraisals are carried out every year but they really don't impact on the career of staff when it comes to growth and development with the environment and most job advancements or growth are not decided by the input of staff generally."
Second Mate SDPO (Current Employee) says"the most hardest part of the job is when a sea man go out of his house to sea. the most enjoyable part is when a sea man pick his bag for time off.we are always happy when going on time off after contract. bourbon is a very good company in aspect of training but i think they need to improve more on employees welfare among other things increament of salaries should be given some taught too.Free foodFree medical care"